MONSTER WORLDWIDE : Monster Completes Acquisition of HotJobs and Enters into Multi-year Traffic Agreement with Yahoo!
08/24/2010 | 09:20am
Monster Worldwide, Inc. (NYSE:MWW) announced today that it has completed
its acquisition of Yahoo! HotJobs, a leading online recruitment website,
from Yahoo! for $225 million in cash. Concurrent with the closing of the
acquisition, Monster and Yahoo! have also entered into a three year
commercial traffic agreement whereby Monster will become Yahoo!'s
exclusive provider of career and job content on the Yahoo! homepage in
the United States and Canada.
The acquisition of Yahoo! HotJobs further strengthens Monster's position
as the market leader in online job opportunities and global recruitment
resources. Monster's expanded customer base will have access to even
more talent, with the brand reaching roughly 62 percent of the US
internet population (130 million unique visitors.) Monster will also
expand its newspaper partnerships from 400 to 1000 with the addition of
600 HotJobs daily and weekly newspapers providing local reach in all 50
states.
At the same time, job seekers will have access to more opportunities,
since Monster is now the foremost source of job postings for employers
in 19 of the top 20 industries and in 45 out of the top 50 cities as
compared to any leading online career site.1
?We are delivering on our strategy with the acquisition of HotJobs and
the clear winners are our customers, job seekers and shareholders,? said Sal
Iannuzzi, chairman, chief executive officer and president of Monster
Worldwide. ?We now have a powerful one-two punch of scale and precision
– the largest pool of seekers and jobs, coupled with our 6Sense semantic
search technology? that allows unrivaled ability to match talent and
opportunities.?
?The completion of the acquisition of HotJobs by Monster is great news
for users, customers, employees and partners,? said Jeff Kinder SVP,
Media Products and Solutions at Yahoo!. ?The combination of Monster and
HotJobs offers a stronger service for all parties, with more employers,
job seekers and opportunities. The traffic agreement also enables Yahoo!
to continue to provide users with valued online career and recruiting
services.?
Effective today, Monster enters a transition period while the company
builds an integrated site and product offering that will deliver the
industry's most complete recruitment and career seeking solutions – and
the tools to derive the most relevant results from the most
possibilities.
1 Source: Wanted Technologies, Total Jobs Posted on Monster.com and
HotJobs.com combined excluding duplicates ,June 2009 through May 2010.
Leading sites are defined as Dice, Job.com, Jobing, LinkedIn career
pages, Monster, HotJobs, SnagAJob.com, and CareerBuilder. Cities are
defined as U.S. Bureau of Labor Statistics metropolitan service areas
Special Note: Except for historical information
contained herein, the statements made in this release, constitute
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of
1934. Such forward-looking statements involve certain risks and
uncertainties, including statements regarding the Company's strategic
direction, prospects and future results. Certain factors, including
factors outside of our control, may cause actual results to differ
materially from those contained in the forward-looking statements,
including economic and other conditions in the markets in which we
operate, risks associated with acquisitions or dispositions, competition
and the other risks discussed in our Form 10-K and our other filings
made with the Securities and Exchange Commission, which discussions are
incorporated in this release by reference.
About Monster Worldwide
Monster Worldwide, Inc. (NYSE: MWW), parent company of Monster®, the
premier global online employment solution for more than a decade,
strives to inspire people to improve their lives. With a local presence
in key markets in North America, Europe, Asia and Latin America, Monster
works for everyone by connecting employers with quality job seekers at
all levels and by providing personalized career advice to consumers
globally. Through online media sites and services, Monster delivers
vast, highly targeted audiences to advertisers. Monster Worldwide is a
member of the S&P 500 index. To learn more about Monster's
industry-leading products and services, visit www.Monster.com.
For more about Monster Worldwide, visit www.about-Monster.com.
Monster Worldwide, Inc.
Investors:
Lori Chaitman, 212-351-7090
Lori.Chaitman@Monster.com
or
Media:
Matthew
Henson, 978-823-2627
Matthew.Henson@Monster.com
© Business Wire 2010
